Jeremy Hunt announced in his Autumn Statement today (November 17) that the state pension triple lock will be kept in place. Prime Minister Rishi Sunak's Chancellor addressed several tax hikes and spending cuts he will be implementing in the House of Commons on Thursday to help bring down inflation and reduce the cost of living.
The “tough but necessary decisions" come as the UK has now entered into a recession and Jeremy Hunt and Rishi Sunak plan to reverse some of the market turmoil after former Prime Minister Liz Truss and Chancellor Kwasi Kwarteng's mini budget in September.
Amongst the announcements made, the Chancellor confirmed that the state pension triple lock will remain in tact, with pensioners expected to see their payments rise in April next year.
